Japan's economy contracted more than initially estimated in the second quarter, largely due to a sharp downward revision in capital investment, second estimates from the Cabinet Office showed Tuesday.
Due to the restrictions imposed to contain the coronavirus spread, gross domestic product shrank by a record 7.9 percent sequentially instead of the 7.8 percent fall estimated initially.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.